SYNNEX Corp. Beats Estimates; Shares Rise (SNX)

SYNNEX Corp. SNX reports Q3 earnings of $0.86 versus consensus of $0.74. SYNNEX Corp. reports revenues of $2.18 billion versus consensus of $2.11 billion. Fourth Quarter Fiscal 2010 Outlook: Revenue is expected to be in the range of $2.30 billion to $2.40 billion, net income is expected to be in the range of $34.0 million to $35.0 million, and diluted earnings per share are expected to be in the range of $0.94 to $0.97. "I am very pleased with our revenue growth and operating margin expansion," stated Kevin Murai, President and Chief Executive Officer. "In the third quarter we experienced ongoing broad-based demand and we continued to successfully drive our mix of higher margin products and services. Our Global Business Services segment performed well as it benefited from the ramp of recent competitive wins. Also, we continued to leverage our infrastructure to drive even greater operating margin expansion in both the Distribution and Global Business Services segments of our business." Shares of SNX are higher in the after-hours by 4.25%.